The SVCA Awards gather Sweden’s private equity ecosystem to celebrate the Fundraise of the Year, Exit of the Year and Impact Investment of the Year. Winners were selected by a jury consisting of institutional investors and SVCA’s CEO Isabella de Feudis. Verdane was distinguished in the awards also in 2018, when the investment firm was awarded Fundraise of the Year for its SEK 3bn fund Verdane Edda.
“The re-commerce sector will continue to grow, driven by sustainability, the sharing economy and upcycling trends as consumers look for businesses with sustainable business models. It’s an investment in a more resource-efficient future for the European consumer, and we are very proud to have our partnership with momox recognised in this way”, says Staffan Mörndal, Partner at Verdane’s Berlin office.
“Since Verdane came on board as an investor last autumn, the team has worked with us as an experienced partner with a strong focus on e-commerce. We look forward to deepening this partnership even further in the future and jointly strengthening momox in its position as the leading re-commerce company in Europe”, says Heiner Kroke, CEO of momox.
Since launch in 2004, the Berlin-based re-commerce company has developed into one of Germany’s top-selling digital companies with almost 20 million customers and more than 200 million articles purchased and sold over the course of its history. momox reported a turnover of EUR 200m for 2018 and employs over 1,700 people at six locations in Germany and Poland. It operates local websites in Austria, France, Germany and the United Kingdom.
ubup.com, the company’s fashion unit, grew by close to 50% in 2018. The book and media unit grew by 30% in the same period. Apart from its rapidly growing own online shops, momox is a leading partner to the world’s biggest marketplaces, such as being Amazon’s largest reseller of second-hand goods worldwide. The company recently hired a Chief Fashion Officer and will continue to invest in the internationalisation of its second-hand fashion unit.
Verdane Capital X originally invested in momox in September 2018, and is the majority owner since Q3 2019. Verdane has made nine investments in the German market since 2016, including momox and smava, a leading German online intermediary of loans. The firm’s five-strong German team is based in Berlin and led by Partner Staffan Mörndal and Principal Maroje Guertl.
Verdane funds have invested in a number of businesses that help drive towards a more sustainable future, including Bemz, The Humble Co, JSB, Jupiter Bach and Polytech.
“The re-commerce sector will continue to grow, driven by sustainability, the sharing economy and upcycling trends as consumers look for businesses with sustainable business models. It’s an investment in a more resource-efficient future for the European consumer, and we are very proud to have our partnership with momox recognised in this way.”
Staffan Mörndal, Partner
About momox
momox is Germany’s leading online re-commerce company for books, CDs, DVDs, computer/video games and clothing, providing a fast and easy way to sell and purchase pre-owned consumer goods. The Berlin-based startup has launched its online trade-in service www.momox.de and its app where consumers can sell their products at fixed prices and free of shipping costs. The company resells purchased goods on www.medimops.de (books, CDs, DVDs, computer/video games) and www.ubup.com (clothing), where consumers can save up to 70% compared to retail prices. Founded in 2004 as Germany’s first re-commerce company for pre-owned items, the company has grown to more than 1,700 employees at six sites. momox also offers its service in the United Kingdom, France and Austria. Since the launch momox has purchased more than 200 million items. Today momox is the biggest vendor for used goods on amazon worldwide and number three on eBay.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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Press Contact
Jonathan Bui, Communications Manager
Verdane
+46 76 27 28 100
jonathan.bui@verdane.com